Hudbay Minerals Inc. (NYSE:HBM) Short Interest Update

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) saw a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 5,490,000 shares, a growth of 19.1% from the October 31st total of 4,610,000 shares. Based on an average daily trading volume, of 3,340,000 shares, the days-to-cover ratio is presently 1.6 days.

Wall Street Analyst Weigh In

HBM has been the subject of several research analyst reports. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Trading Down 2.1 %

HBM opened at $8.76 on Tuesday. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. Hudbay Minerals has a 52 week low of $4.51 and a 52 week high of $10.49. The stock has a market cap of $3.45 billion, a PE ratio of 38.07 and a beta of 1.78. The business has a 50 day moving average of $9.12 and a 200-day moving average of $8.69.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Wednesday, November 13th. The mining company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. The firm had revenue of $485.80 million for the quarter, compared to analysts’ expectations of $454.47 million. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.07 EPS. Equities research analysts predict that Hudbay Minerals will post 0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hudbay Minerals

Hedge funds have recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC raised its stake in Hudbay Minerals by 792.5% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock valued at $94,874,000 after buying an additional 9,166,952 shares during the last quarter. Vanguard Group Inc. lifted its position in Hudbay Minerals by 3.2% during the first quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock valued at $60,861,000 after purchasing an additional 272,635 shares in the last quarter. Bank of Montreal Can grew its holdings in Hudbay Minerals by 23.1% during the third quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock valued at $71,308,000 after purchasing an additional 1,441,991 shares during the period. Donald Smith & CO. Inc. increased its position in Hudbay Minerals by 31.9% in the third quarter. Donald Smith & CO. Inc. now owns 3,748,780 shares of the mining company’s stock worth $34,451,000 after buying an additional 906,417 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Hudbay Minerals by 24.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,545,340 shares of the mining company’s stock worth $32,084,000 after buying an additional 702,170 shares during the period. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.